12 Jul '12, 8pm

China paves way for carbon market

China paves way for carbon market

The Chinese government has released a new set of regulations for the country's emerging carbon market, potentially laying the foundations for the development of a national carbon market. Green NGO The Climate Group reported that China's influential National Development and Reform Commission (NRDC) has this month released a new document entitled The Interim Regulation of Voluntary Greenhouse Gases Emission Trading in China . The rules, which are intended to govern those provinces currently pursuing trial carbon offsetting and emissions cap-and-trade schemes, set out a series of standards regional governments must follow as they roll out carbon trading mechanisms. "Chinese voluntary GHG [greenhouse gas] emission trading should be practised in the principles of openness, fairness, impartiality and good faith," the regulations state. "The GHG emission reductions shall come fro...

Full article: http://www.greenbiz.com/blog/2012/07/13/china-regulations...

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